RBC Bearings Incorporated Announces Pricing of 4.375% Senior Notes Due 2029 by Roller Bearing Company of America, Inc
September 23, 2021 at 06:01 pm EDT
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RBC Bearings Incorporated announced that Roller Bearing Company of America Inc., a wholly-owned subsidiary of RBC Bearings, has successfully priced an offering of $500.0 million aggregate principal amount of 4.375% senior notes due 2029. The offering is expected to close on October 7, 2021, subject to customary closing conditions. The Notes are being offered in connection with RBC Bearings’ financing of its previously announced pending acquisition of the Dodge Mechanical Power Transmission Business (“Dodge”) of ABB Asea Brown Boveri Ltd.RBC Bearings intends to use the net proceeds from the offering to fund a portion of the cash purchase price for the pending acquisition of Dodge, to pay acquisition-related fees and expenses, and for other general corporate purposes. In addition, substantially concurrently with the closing of the pending acquisition, the Issuer is expected to become the borrower under a new credit agreement.
RBC Bearings Incorporated is a manufacturer and marketer of engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries. The Company operates through two segments: Aerospace/Defense, and Industrial. The Company's products include plain bearings, roller bearings, ball bearings, mounted bearings, enclosed gearing, motion control components and engineered components. Its plain bearings are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or heavy mining and construction equipment. Its roller bearings are anti-friction products that utilize cylindrical rolling elements. Its roller bearings include tapered roller bearings, needle roller bearings and needle bearing track rollers and cam followers. Its engineered components consist primarily of engineered hydraulics and valves, fasteners, precision mechanical components and machine tool collets.
RBC BEARINGS INCORPORATED 
